China’s Shanghai SIMR Biotechnology Co., Ltd has reportedly raised RMB 150 million (USD 20.7 million) in a Series C1 financing round, alongside “tens of millions” in bank loans. Investors included Guanzi Private Fund Management, Tian Rui Feng Nian, and Yixing Huarui. The proceeds will be used to support pre-clinical development, clinical trials, and global partnerships.
Company Profile and Pipeline
Founded in 2014, SIMR Biotechnology has units in Guangdong and Jiangsu provinces in China, as well as in the US and Australia. The company is focused on the research and development of new drugs to treat pain, inflammation, central nervous system diseases, and other conditions. SIMR Bio’s product pipeline includes eight innovative drugs, with SR419, SR750, and SR1375 currently undergoing global multi-center clinical studies in China, the US, and Australia.
Key Developments
Notably, SR419, an in-house developed drug for treating peripheral neuropathic pain with a new mechanism of action, obtained fast-track status in the US in May 2022 and received clinical approval in the country. Additionally, SR1375 has earned the go-ahead for a Phase II study in neuritis. These milestones highlight SIMR Bio’s commitment to advancing its pipeline and bringing innovative treatments to patients globally.-Fineline Info & Tech
